GRAND RAPIDS, MICHIGAN--(Marketwired - May 2, 2016) - Agility Health, Inc. (TSX VENTURE:AHI) ("Agility Health" or the "Company"), today reports its financial results for the fourth quarter and year ended December 31, 2015. All amounts are expressed in U.S. dollars unless indicated otherwise.

During 2015, the Company achieved its goals of improving operational performance and business development, which included a strong focus on greenfield clinic expansion and focused expansion of contract services, including expansion of industrial rehabilitation services.

Financial and Operating Highlights for 2015

(All comparative figures are for the corresponding period of the prior year)

EBITDA from continuing operations grew by 218% to $5.1 million or 8% of revenues from $1.6 million and 3% of revenues;

Gross margin from operations for the year remained consistent at 22%;

Net and total loss declined to $1.9 million or $(0.03) per share in 2015 compared to $6.5 million or $(0.09) per share in 2014; and

Four outpatient clinics were opened during 2015, compared to one in 2014.

"Agility Health's financial results for 2015 demonstrate the fulfillment of many of the operational changes and initiatives that began in 2014, as we've worked diligently to shepherd the Company toward consistent growth and profitability," stated Steve Davidson, Agility Health's Chairman and CEO. "We continue to focus on internal growth initiatives, including maintaining a greenfield clinic expansion opportunity pipeline, and seeking new or expanded contract customers across all lines of business. We remain focused on driving improvement in revenue enhancing initiatives into and throughout 2016."

Financial and Operating Highlights for the Fourth Quarter, 2015

(All comparative figures are for the corresponding period of the prior year)

EBITDA from continuing operations grew to $1.0 million or 7% of revenues from $nil or 0% of revenues;

Revenue from continuing operations for the period declined to $15.2 million from $15.4 million; and

Gross margin from operations for the quarter slightly declined to 19% from 20%.

Selected Financial Information

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

December 31, 2015 and 2014

(Expressed in US Dollars)

December 31,

December 31,

2015

2014

ASSETS

Current assets

Cash

$

1,306,593

$

1,301,084

Accounts and other receivables

7,206,485

7,668,353

Income taxes receivable

115,808

115,808

Prepaid expenses and other current assets

1,004,376

1,173,300

Total current assets

9,633,262

10,258,545

Investments

86,025

86,025

Property and equipment

1,187,773

1,307,508

Intangible assets

12,160,263

13,024,986

Goodwill

2,531,390

2,682,730

Total assets

$

25,598,713

$

27,359,794

LIABILITIES AND EQUITY (DEFICIT)

Current liabilities

Accounts payable and accrued liabilities

$

8,267,626

$

8,122,871

Line of credit

4,582,875

5,060,085

Current portion of long-term debt

222,222

555,555

Current portion of other long-term liabilities

630,794

1,413,432

Total current liabilities

13,703,517

15,151,943

Convertible debentures payable

1,004,628

1,114,763

Other long-term liabilities

21,832,854

22,214,537

Total liabilities

36,540,999

38,481,243

Equity (deficit)

Share capital

9,020,480

6,280,665

Contributed surplus

355,267

299,036

Retained deficit

(22,430,873)

(19,382,756)

(13,055,126)

(12,803,055)

Non-controlling interest

2,112,840

1,681,606

Total equity (deficit)

(10,942,286)

(11,121,449)

Total liabilities and equity (deficit)

$

25,598,713

$

27,359,794

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

Years ended December 31, 2015 and 2014

(Expressed in US Dollars)

2015

2014

Revenue

$

62,328,991

$

62,104,509

Cost of revenues

Salaries and benefits

40,093,117

40,837,396

Contract labor

1,018,142

802,113

Facility

3,895,123

3,424,663

Supplies

802,671

891,292

Depreciation and amortization

692,741

726,829

Provision for bad debts

770,408

464,763

Other

1,328,860

1,424,005

Total cost of revenues

48,601,062

48,571,061

Gross margin

13,727,929

13,533,448

Selling, general and administrative

11,682,170

14,313,511

Other income (expense)

Interest expense

(4,808,120

)

(4,684,482)

Interest income

50

157

Loss on disposal of equipment

-

(38,568)

Foreign currency translation expense

(186

)

31,644

Fair value adjustment on warrants and obligations

991,969

284,882

(3,816,287

)

(4,406,367)

Loss from continuing operations before income taxes

(1,770,528

)

(5,186,430)

Provision for income taxes

Current

66,202

71,729

Deferred

-

-

66,202

71,729

Net and total comprehensive loss from continuing operations

(1,836,730

)

(5,258,159)

Discontinued Operations

Net and total comprehensive loss from discontinued operations

(99,153

)

(1,257,477)

Net and total comprehensive loss

$

(1,935,883

)

$

(6,515,636)

Net and total comprehensive income (loss) attributable to:

Shareholders

$

(3,048,117

)

$

(7,337,303)

Non-controlling interest

1,112,234

821,667

$

(1,935,883

)

$

(6,515,636)

Earnings per share

Basic, loss per share

$

(0.03

)

$

(0.09)

Diluted, loss per share

$

(0.03

)

$

(0.09)

About Agility Health

Through its subsidiary and principal operating entity, Agility Health, LLC, Agility Health operates a multi- state network of outpatient rehabilitation clinics and provides contracted services to hospitals, nursing homes and other institutional clients, providing care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and a variety of other injuries and conditions. In addition, Agility Health provides a number of ancillary services related to physical rehabilitation, including practice management software systems and custom orthotics. As of December 31, 2015, Agility Health operates 87 outpatient or onsite rehabilitation locations in 14 states. Agility Health's contract therapy services business provides rehabilitative services to 33 hospitals and inpatient rehabilitation units, 28 nursing homes, long-term care facilities and other service locations in 8 states. For more information, please visit investors.agilityhealth.com.

Non-IFRS Financial Measures

Agility Health's consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS). The Company also uses certain non-IFRS measures, such as EBITDA to measure its financial performance. EBITDA is defined by the Company as the addition of net loss, depreciation and amortization and financial expenses. The Company uses EBITDA for the purpose of evaluating its historical and prospective financial and operational performance. Management believes that EBITDA is a useful measure for evaluating the performance of the Company. EBITDA is not a performance measure recognized under IFRS, therefore it does not have any standardized meaning prescribed by IFRS and may not be comparable to similarly titled financial metrics reported by other companies.

Forward-Looking Information

This press release contains forward-looking statements regarding Agility Health and its business. Such statements are based on the current expectations and views of future events of Agility Health's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release, including the anticipated future growth of Agility Health, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumption and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Agility Health undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future events, or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.